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The Indian Financial System Code (IFS Code or IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India: the National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) systems.
Tamilnad Mercantile Bank Limited (TMB) is an Indian bank headquartered at Thoothukudi, Tamil Nadu. TMB was founded in 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in November 1962 to widen its appeal beyond the Nadar community. The bank currently has 509 full branches throughout India, 12 regional offices and two ...
The name of this Bank changed along with the state name to “The Tamil Nadu State Co-operative Bank Ltd.” [5] Presently, the NCDC, TNSC Bank is open and functioning as a training institute in a rental building in Adyar since arriving in 1989. [5] The Government of Tamil Nadu invested ₹20.26 crore in the ordinary share capital of TNSC. [6]
The bank is jointly owned by the central and state governments and sponsored by the Indian Bank. It is under the ownership of the Ministry of Finance, Government of India. Tamil Nadu Grama Bank was formed on 1 April 2019 by the amalgamation of the erstwhile Pallavan Grama Bank and Pandyan Grama Bank, as per GOI Gazette Notification No. 363 ...
The credit flow to agriculture activities sanctioned by NABARD reached Rs 1,57,480 crore in 2005–2006. [citation needed] Through assistance of the Swiss Agency for Development and Cooperation, NABARD set up the Rural Innovation Fund. The Rural Infrastructure Development Fund (RIDF) is another noted scheme for the bank for rural development. [31]
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
In 1988–89, IOB acquired Bank of Tamil Nadu, and its 99 branches, in a rescue. Bank of Tamil Nadu (or Bank of Tamilnad), had been established in 1903 in Tirunelveli as the South India Bank. In 1992, Bank of Commerce , a Malaysian bank, acquired United Asian Bank (UAB).
1 The Tamil Nadu Sales Tax (Settlement of Arrears) Act, 2008 60 of 2008 Finance [29] [30] 2 The Tamil Nadu Laws (Special Provisions) Act, 2008 56 of 2008 Housing and Urban Development [31] 3 The Chennai City Police (Extension to the Chennai City Suburban Area) Act, 2008 54 of 2008 Police [32] 4 The Tamil Nadu Laws (Special Provisions) Act, 2008